Bob Lutz Dumps Stock As GM Careens Toward Bankruptcy

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Bob “SUV” Lutz and other General Motors (GM) execs dump stock as the company’s bankruptcy becomes inevitable “more probable”:

Bloomberg: [S]ix executives sold shares in the company, as the largest U.S. automaker said it’s more probable than previously thought that it will need to file for bankruptcy.

Vice Chairman Bob Lutz and North America President Troy Clarke sold all their holdings in the Detroit-based company, according to regulatory filings today…

Lutz sold 81,360 GM shares, at $1.61 each, according to a filing. Clarke sold 21,380 at $1.45 a share. Others selling stock were Vice Chairman Thomas Stephens and Group Vice Presidents Gary Cowger, Carl-Peter Forster and Ralph Szygenda, according to the filings.

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